Daily Times

The cryptocurrency market snapped a two-day losing streak on Tuesday, with market capitalisation gaining 5.8 percent to reach $1.86 trillion.

As of 1330 hours GMT, the largest cryptocurrency Bitcoin’s (BTC) price gained 4.42 percent to reach $38,694. With this increase in price, the market capitalisation of the biggest crypto has reached $732 billion. Bitcoin price increased by 5.5 percent during the last seven days and briefly plunged below $33,000 last week to its lowest level since July. It is still down almost 45 percent from a record high of nearly $69,000 in November. Bitcoin fell as much as 25pc in the past month, while the crypto market has lost upward of $1 trillion in market capitalisation in the same period.

Ether, the world’s second-largest cryptocurrency by market capitalisation, jumped by 9.57 percent to reach $2,785. With this increase in price, the market capitalisation of ETH has reached $328 billion. Ether has gained 14 percent of its value over the last seven days while the crypto has almost halved in value since reaching its peak in November.

Following suit, XRP price went up by 6.12 percent to reach $0.622. The market capitalisation of XRP stands at $62 billion with this increase. XRP has gained 1.4 percent during the last seven days.